Flossbach Von Storch SE bought a new position in Fortinet, Inc. (NASDAQ:FTNT - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,989 shares of the software maker's stock, valued at approximately $2,149,000.
Several other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in shares of Fortinet by 2.2% during the fourth quarter. Brighton Jones LLC now owns 10,327 shares of the software maker's stock valued at $976,000 after buying an additional 221 shares during the last quarter. Bison Wealth LLC bought a new position in Fortinet in the 4th quarter valued at approximately $585,000. HUB Investment Partners LLC lifted its position in Fortinet by 29.1% in the 2nd quarter. HUB Investment Partners LLC now owns 5,299 shares of the software maker's stock valued at $560,000 after acquiring an additional 1,193 shares in the last quarter. Diversify Advisory Services LLC purchased a new stake in Fortinet during the 2nd quarter valued at $1,136,000. Finally, Quantinno Capital Management LP boosted its stake in Fortinet by 27.4% during the 2nd quarter. Quantinno Capital Management LP now owns 144,989 shares of the software maker's stock valued at $15,328,000 after purchasing an additional 31,202 shares during the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.
Fortinet Price Performance
FTNT stock opened at $152.85 on Thursday. Fortinet, Inc. has a 52 week low of $73.55 and a 52 week high of $172.09. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 0.32. The company has a fifty day simple moving average of $155.98 and a two-hundred day simple moving average of $116.87. The firm has a market capitalization of $112.15 billion, a P/E ratio of 53.82, a price-to-earnings-growth ratio of 3.00 and a beta of 1.07.
Fortinet (NASDAQ:FTNT - Get Free Report) last posted its earnings results on Wednesday, July 29th. The software maker reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.15. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.89 billion. Fortinet had a net margin of 28.17% and a return on equity of 191.54%. The business's quarterly revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 EPS. Fortinet has set its FY 2026 guidance at 3.410-3.470 EPS and its Q3 2026 guidance at 0.830-0.870 EPS. Analysts anticipate that Fortinet, Inc. will post 3.05 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on FTNT shares. Compass Point set a $100.00 target price on shares of Fortinet in a research note on Monday, May 4th. William Blair reissued a "market perform" rating on shares of Fortinet in a report on Tuesday, July 21st. Bank of America restated a "buy" rating on shares of Fortinet in a research report on Monday, July 27th. Truist Financial set a $183.00 price target on shares of Fortinet and gave the stock a "buy" rating in a research note on Tuesday, July 21st. Finally, Wall Street Zen raised shares of Fortinet from a "hold" rating to a "buy" rating in a report on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, eighteen have issued a Hold rating and five have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $150.91.
Check Out Our Latest Stock Report on Fortinet
Insider Activity at Fortinet
In other Fortinet news, VP Michael Xie sold 3,121 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $162.63, for a total transaction of $507,568.23. Following the sale, the vice president directly owned 9,918,360 shares of the company's stock, valued at $1,613,022,886.80. The trade was a 0.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Ken Xie sold 161,482 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $162.66, for a total value of $26,266,662.12. Following the sale, the chief executive officer owned 52,972,372 shares in the company, valued at approximately $8,616,486,029.52. This trade represents a 0.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 329,142 shares of company stock worth $50,731,178 over the last three months. 17.60% of the stock is currently owned by insiders.
About Fortinet
(
Free Report)
Fortinet, Inc NASDAQ: FTNT is a multinational cybersecurity company that develops and delivers integrated security solutions for enterprise, service provider and government customers worldwide. Founded in 2000 and headquartered in Sunnyvale, California, the company was co‑founded by Ken Xie and Michael Xie. Ken Xie serves as chairman and chief executive officer, and the company operates through a global sales, channel and services organization to support customers across the Americas, EMEA and Asia‑Pacific.
Fortinet's product portfolio centers on network security appliances and software, with its FortiGate next‑generation firewalls and the FortiOS operating system forming a core platform.
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